EndoChoice Corporate Presentation

January 2016

Safe Harbor This presentation contains forward‐looking statements. You should not rely upon forward‐looking statements as predictions of future events. All statements other than statements of historical facts contained in this presentation, including information concerning our possible or assumed future results of operations and expenses, business strategies and plans, competitive position, business environment and potential growth opportunities, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties are described in our filings with the SEC, including the Registration Statement on Form S-1, as amended, for our initial public offering and our Form 10-Q for the period ended September 30, 2015. Given these uncertainties, you should not place undue reliance on any forward-looking statements in this presentation. Except as required by law, we disclaim any obligation to update any forward‐looking statements for any reason after the date of this presentation.

This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Platform GI Company Differentiated Tech $6B Addressable Market Growth Drivers

+ +

2015 Revenue of

$72.3M,

18% growth YoY

Shipped 82 Fuse

end-user systems,

year over year

growth of 116%

$6B Global

GI market,

growing annually

at 7%

New Products,

Expanding Sales

Team, 2,500+ US

customers

EndoChoice at a Glance

3

+

Single Use Products

Pathology

Imaging

GI Market Opportunity

4

Pathology

5

Source:

Markets & Markets, Endoscopy Equipment, Global Forecasts to 2018;

The U.S. Anatomic Pathology Market, Forecast & Trends 2014-15;

Annual Reports and EndoChoice Internal Estimates

Note: Devices do not include ERCP and EUS opportunity

EndoChoice Platform for GI Endoscopy ~$6 Billion Global GI Market

7% GI Market Growth Rate

Imaging Single-Use Products

2008 2010

2013

6

Source: iData & EndoChoice Internal Data

EndoChoice is Targeting 95% of GI Procedures

Dilation

Visualization

Airway

Personal Protection

Inventory Mgt

Diagnostic Tests

Luminal Access

Tissue Acquisition

Patient Monitoring

Luminal Patency

Data Management

EndoKits

Preparation

Suction

Patient Service Hemostasis

Cleaning

Retrieval Transport

Mobility

Quality Measures

Infection Risk

A World of Opportunity…

7

Disinfection

Fragmented GI Community

8

GI Procedure

Cycle

EndoChoice Platform

9

Proven Track Record in GI Innovation

10

ASP Range of $2 to $225,000

Pathology

2015 Revenue $13.9M

Total 2015 Revenue: $72.3M – 2 Year CAGR: 18%

Three Growth Engines

Total revenue last

year

Growth rate

Leveraging a

common sales team

Serving the GI Caregiver with Differentiated Products and Services

Imaging

2015 Revenue $22.4M

Leveraging a Unified Sales Team

Single-Use Products

2015 Revenue $36.1M

The EndoChoice Platform

12

Single-Use Products

~$1.7B Market Size Globally

XX%

Single-Use Products

2015 Revenue

$36.1 Million 2-Year CAGR 8%

2016 SUP Growth Drivers More than 2,500 customers in the US New Products to increase wallet share New 20 Dedicated Account Managers

14

28,638 31,861 33,878

2,062

1,984 2,198

30,700

33,845 36,076

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

$40,000

$45,000

$50,000

2013 2014 2015

Domestic Single-Use Products International Single-Use Products

Stable SUP Revenue Underpins Model

(000’s)

Presence in >2,500 GI departments (1/3 of U.S. market)

65% of our SUP customers buy multiple products

Fuse customers buy 2.5x vs non-Fuse customers

GI Pathology

XX%

GI Pathology

2015 Revenue

$13.8 Million 7% CAGR

2016 SUP Growth Drivers Automated ADR Reporting Stickiness via EMR integration New 20 Dedicated Account Managers

~$1B Market Size in US

16

Pathology Growth (2 Year CAGR of 9% in Specimens Processed)

100,000

105,000

110,000

115,000

120,000

125,000

130,000

135,000

140,000

$5,000

$7,000

$9,000

$11,000

$13,000

$15,000

2013 2014 2015

Pathology Revenue Specimens Processed

Specimen 2 Yr.

CAGR – 9%

Specimen growth outpacing impact of reimbursement cuts in 2014

(000’s)

~$3B Market Size Globally

Imaging

XX%

Imaging

2015 Revenue

$22.4M 67% CAGR

2016 SUP Growth Drivers New Sales Hires/Increased Productivity Expanding Clinical Data

18

A New Standard in GI Imaging

Fuse Gaining Traction

19

4,700

10,114

16,953

3,372

4,865

5,429

8,072

14,979

22,382

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

2013 2014 2015

Domestic Imaging International Imaging(000’s)

33 51

66 78

91 8

10

20

26

32

41

61

86

104

123

0

25

50

75

100

125

150

Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

End-User Installed Base by Quarter

Domestic - End Customer Int - End Customer Linear (Total)

Fuse® Installed Base Now Over 100 Systems

20

81% of Fuse customers buy our Single Use Products

21

Limited View with 170° Colonoscopy

22

Panoramic 330° Field of View with Fuse®

23

Field of View 170°

24

330° Field of View

LEDs

25

Fuse® Enabling Technologies Integrating LEDs and Multiple Imagers

3 Imagers

Light Guides

1 Imager

Traditional Colonoscope Fuse Colonoscope

26

Compelling Clinical and

Cost-Effectiveness Data

Sources:

Gralnek IM, Siersema PD, Rex DK, et al. Standard forward-viewing colonoscopy versus full-spectrum

endoscopy: an international, multicentre, randomised, tandem colonoscopy trial. The Lancet Oncology

2014; 15: 353-60.

Hassan, et al, Cost-effectiveness of “full spectrum endoscopy” colonoscopy for colorectal cancer

screening , Digestive and Liver Disease, 2015

Fuse® detected 69% more pre-cancerous polyps, improving quality of care

Fuse® provides confidence with a negative exam. Fuse® found pre-cancerous polyps in 6% of patients which had normal findings by standard colonoscopy

9% of patients were recalled on an earlier interval. GI physician can retain and attract more patients

Potential $300M annual cost savings in U.S. alone

27

Expanding Set of Clinical Data

“…Improve(s) the efficacy

of colorectal cancer screenings…” Gralnek et al., The Lancet Oncology

“…An advancement in colonoscopy…” Papanikolaou et al., UEGW 2014 Abstract

“…More effective in identifying

multiple polyps…” Hassan et al., UEGW 2014 Abstract

“Advancement time to the cecum

was faster with Fuse…” Neumann et al., UEGW 2014 Abstract

“…Greatly expanded view

of the upper GI tract…” Stein et al., NYSGE Abstract 2013

28

Direct to Patient: Insist on Fuse®!

Fuse® Adds Value For All Stakeholders

29

Physician Significant GI advance

Differentiated practice, more procedures

Payor Cost saving technology

Addressing problem of interval cancer

Hospital/ASC Differentiated technology

Marketing advantage

Patient Reduced fear of missed polyps

Increased confidence in negative exam

Pathology

2015 Revenue $13.9M

Total 2015 Revenue: $72.3M – Total 2-Year CAGR: 18%

The EndoChoice Platform

Total revenue last

year

Growth rate

Leveraging a

common sales team

Serving the GI Caregiver with Differentiated Products and Services

Single-Use Products

2015 Revenue $36.1M

Imaging

2015 Revenue $22.4M

Leveraging a Unified Sales Team.

Driving Commercial Success

31

Multi-Pronged Growth Strategy

32

Expand

US Sales Force

Enter New

International Markets

Launch New

Products GPO Contracts/

Creative Bundling

33

US Sales Force Expansion & Optimization

Imaging

SUP

Pathology

70

Territory

Managers

Territory Managers (TMs)

sell entire portfolio.

Account Managers (AMs)

focused exclusively on Single-Use Products and Pathology.

December 2013 December 2014

Q4 Expansion 2015

SUP

Pathology

35 SUP

Pathology

Imaging

45 SUP

Pathology

Imaging

55 SUP

Pathology

20

TM TM TM AM

Engagement With Major GPOs

34

Current GPO contracts drive revenue growth

More products on contract drive revenue growth

No contract position hampers effort to expand business

Currently $17M is up for renewal in 2015 (Premier, Novation and HealthTrust-HPG)

Fuse Contract

Scope Services Contract

SUP Contract

Strategic International Expansion

35

Phase 1

Europe

Phase 4

LATAM

Phase 2

Asia

Phase 3

MEA

Direct Sales in Germany and Israel

Distribution partners in 30 countries

2,062 1,984 2,198

3,372 4,865

5,341

5,434

6,849 7,539

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

2013 2014 2015

Single-Use Products Imaging

International Revenue Growing Marginally Faster than Domestic on Constant Currency Basis

36

2 Yr. CAGR of 33% on constant currency basis

(000’s)

Life Cycle Revenue Potential Per New ASC Customer

37

2 Room Center

Revenue Value

One Time Sale

Fuse Video System, 2 Rooms $440,000

Recurring Revenue

Devices $160,000

EndoKits $160,000

Endoscope Reprocessing $80,000

Endoscope Service $120,000

Pathology Billing $2,000,000

Total Recurring Revenue Over 5 Years $2,520,000

5 Yr. Revenue Potential For Each

New Customer $2,960,000

85% Recurring

15% Capital

Use icons for each division

38 38

This ASC successfully leverages EndoChoice’s product platform

Note: Cost of products and services refers to cost per use / procedure

Single-Use Products Imaging/Fuse® Pathology

$8

$30

$100 Leveraging The EndoChoice Platform

Growth Drivers for 2016

39

New Product Launches

Automated ADR Reporting

39

Imaging/Fuse® Pathology Single-Use Products

Expanding International Footprint

Expanding International Footprint

Integration into EMR systems

20 New Account Managers in US

20 New Account Managers in US

Expanding to 55 Territory Managers

2500+ US Customers and GPO Contracts

Expanding Set of Clinical Data

Strong Financial Profile

40

Consistent Revenue Growth Across All Product Lines

41

First sales of Fuse® Generation 1 in late 2013 to gain experience;

Started deliveries of Gen 2 in Q2 2015

12,119 12,595 13,844

30,700 33,845 36,076

8,072

14,979

22,382 50,891

61,419

72,302

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

2013 2014 2015

Pathology Single-Use Products Imaging(000’s)

Path To Gross Margin Improvement Gain Scale in Fuse Manufacturing

42

Target

Current State

Fixed Manufacturing Overhead

Units Produced

Fixed OH per system

Direct Materials per system

Direct Labor per system

Total Costs/System

US ASP/System

Gross Margin%

$11.5M

100

$115

$75

$15

$205

$205

0%

$15.0M

500

$30

$53

$12

$95

$205

54%

Evolution of Fuse System Margin

Business Unit Percent of

Revenue

Current

Margin%

Target

Margin%

GI Equipment and Supplies 80% 26% 54%

Pathology 20% 61% 60%

Total/Blended - 33% 55%

Evolution of Corporate Gross Margin

Path To Profitability Longer Term Operating Goals

Gross margin expansion will be driven by:

Spreading fixed manufacturing costs over higher unit volumes

Design programs to reduce parts and improve manufacturability

Greater purchasing leverage with vendors on higher volumes

43

Long Term Goals

Gross Margin ~ 55%

Sales & Marketing ~ 21%

General & Administrative ~ 10%

Research & Development ~ 7%

Operating income ~17%

These objectives are forward-looking, are subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond

the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and

those variations may be material. For discussion of some of the important factors that could cause these variations, please see the risks and uncertainties in our Form S-1, as

amended, and our Form 10-Q for the period ended September 30, 2015. Nothing in this presentation should be regarded as a representation that these goals will be

achieved, and we undertake no duty to update our goals.

Platform GI Company Differentiated Tech $6B Addressable Market Growth Drivers

+ +

2015 Revenue of

$72.3M,

19% growth YoY

Shipped 82 Fuse

end-user systems,

year over year

growth of 116%

$6B Global

GI market,

growing annually

at 7%

New Products,

Expanding Sales

Team, 2,500+ US

customers

EndoChoice at a Glance

44

+

Single Use Products

Pathology

Imaging